Algert Global LLC Buys 224,482 Shares of Iovance Biotherapeutics, Inc. $IOVA

Key Points

• Algert Global LLC significantly increased its holdings in Iovance Biotherapeutics by acquiring an additional 224,482 shares, bringing its total ownership to 280,882 shares worth $935,000.
• Several analysts have recently revised their ratings on Iovance Biotherapeutics, with six analysts issuing a Buy rating, while only one assigned a Sell rating.
• Iovance Biotherapeutics reported a loss of $0.33 per share for the last quarter, falling short of analysts' expectations, and anticipates an EPS of -1.24 for the current fiscal year.

Algert Global LLC raised its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 398.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 280,882 shares of the biotechnology company's stock after purchasing an additional 224,482 shares during the period. Algert Global LLC owned 0.08% of Iovance Biotherapeutics worth $935,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of IOVA. Man Group plc bought a new position in Iovance Biotherapeutics during the 4th quarter worth $17,871,000. Principal Financial Group Inc. lifted its holdings in Iovance Biotherapeutics by 28.7% in the first quarter. Principal Financial Group Inc. now owns 4,694,122 shares of the biotechnology company's stock valued at $15,631,000 after buying an additional 1,047,335 shares during the period. Stempoint Capital LP acquired a new position in Iovance Biotherapeutics in the fourth quarter valued at $7,026,000. Nuveen LLC acquired a new position in Iovance Biotherapeutics in the first quarter valued at $2,953,000. Finally, Boxer Capital Management LLC acquired a new position in Iovance Biotherapeutics in the fourth quarter valued at $5,550,000. 77.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Zacks Research upgraded shares of Iovance Biotherapeutics to a "hold" rating in a report on Tuesday, August 12th. The Goldman Sachs Group lowered shares of Iovance Biotherapeutics from a "neutral" rating to a "sell" rating in a report on Tuesday, July 15th. Citizens Jmp lowered shares of Iovance Biotherapeutics from an "outperform" rating to a "market perform" rating in a report on Friday, May 9th. JMP Securities reaffirmed a "market perform" rating on shares of Iovance Biotherapeutics in a research note on Friday, May 9th. Finally, Truist Financial downgraded shares of Iovance Biotherapeutics from a "buy" rating to a "hold" rating in a research note on Monday, May 12th. Six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Iovance Biotherapeutics presently has an average rating of "Hold" and an average target price of $11.90.

Iovance Biotherapeutics Trading Up 5.9%

IOVA opened at $2.69 on Friday. Iovance Biotherapeutics, Inc. has a 1-year low of $1.64 and a 1-year high of $12.51. The company has a market cap of $973.38 million, a P/E ratio of -2.19 and a beta of 0.88. The company has a fifty day moving average price of $2.30 and a two-hundred day moving average price of $2.99.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.04). The business had revenue of $59.95 million for the quarter, compared to analyst estimates of $67.14 million. Iovance Biotherapeutics had a negative net margin of 161.44% and a negative return on equity of 52.87%. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. On average, research analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.

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